Colliers’ Jeff Devine and Steve Disse represented James Campbell Company in its sale of 10600 West Belmont Ave. in Franklin Park to LBA Logistics. The property sold for an undisclosed price.
The building is a 215,094-square-foot distribution facility located on the southern edge of O’Hare International Airport. Built in 1996, the building features 24-foot clear height ceilings and efficient loading. The site is minutes from the future I-490 western bypass, anticipated to be completed by 2025, which will carry north-south traffic around the western border of O’Hare and provide immediate access to the airport.
According to Colliers 2022 Q2 market report, the O’Hare submarket vacancy rate has dropped below the 2% threshold for the first time in history, as demand remains strong in Chicago’s industrial market. Four speculative construction projects and a build-to-suit projects are currently under construction in the submarket.
